General

BitGo Introduces Institutional Crypto Lending Service

BitGo

The world of crypto has developed at a breakneck pace over the past few years, and in a new development, cryptocurrency firm BitGo has announced the launch of its own crypto lending service. In recent times, the crypto lending industry has grown at a decent pace, but there is still room for a lot of growth.

Key Expansion

The announcement from BitGo is an important one and could usher in a new era in this niche space in the crypto sphere. The company claims to handles 20% of all transactions that are conducted through Bitcoin, and the service is going to be launched today.

The company conducted a beta test spanning over a period of several months, and it seems, it is now good to go. BitGo is aiming to create a crypto lending service that is similar to services that are available in traditional markets, according to the head of financial services at BitGo, Nick Carmi. The lending service is going to offer loans that are fully collateralized, and in addition to that, there is going to be detailed reporting for each client.

>> Dogecoin (DOGE) Gets Support from Tesla CEO Elon Musk

Carmi also stated that the business that has been created by the company is not going to be a run-of-the-mill business interested in small margins and high volumes. He added, “We are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”

However, the most important thing to note about this product is the fact that it is only going to be open to institutional traders, and the company has no plans to make it available to non-institutional traders. Carmi is a veteran of Wall Street and stated that a service of this kind is a first for BitGo as well.

Featured image: DepositPhotos © iqoncept

If You Liked This Article Click To Share

.crec-header h1 { color:#808080; max-width: 776px; margin-left: auto; margin-right: auto; padding-top:10px; font-size:12px; margin-bottom: 0; } .crec-container { max-width: 776px; margin-left: auto; margin-right: auto; } .crec-all-ads { display: flex ; flex-wrap: wrap ; } .crec-ad { width: 191px; padding-right: 4px; padding-top:5px; padding-bottom: 8px; } .crec-ad p { padding-top: 5px; font-weight: 700; line-height:1 !important; } .crec-ad:last-child { width: 191px; padding-right: 0; } .crec-ad > p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }

.mobile_tx{display: none;} #ax1x{ font-size: 1.1em; font-weight: bold; line-height: 1.5; clear:both; margin: 0px 0px 20px 1% !important; min-height: 4.5em; text-transform: uppercase; padding: .25em 0 10px 0; position: relative; width: 98%; float: left; } .next-pg { height: 85px !important; width: 100%; border-top-left-radius: 3px; border-bottom-left-radius: 3px; background-color: #e5192c ; background-image: url(‘/wp-content/themes/mh-magazine/images/global-after.png’) !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; overflow: hidden; box-sizing: border-box; margin-bottom: 0px; margin-top: 10px; position: relative; padding-left: 100px; } .next-pg::before { width: 45px !important; height: 85px !important; display: block; content: “”; width: 32px; height: 64px; background-image: url(‘/wp-content/themes/mh-magazine/images/global-before.png’) !important; background-repeat: no-repeat; background-position: right center; background-size: auto 100%; position: absolute; left: -4px; top: 0px; } .action-txt { text-transform: uppercase; margin: 12px; line-height: 61px; text-align: left; font-size: 36px; background-repeat: no-repeat; background-position: right center; background-size: 26px 18px; color: #FFF; float: left; font-weight: bold; font-family: “Open Sans”,sans-serif !important; width: 78%; display: inline-block; text-align: center; } @media (max-width: 768px){ .mobile_tx{display: block;} .desktop_tx{display: none;} .pps-slider-nav .pps-next { text-align: center; position: static; padding: 5px 20px; float: left; width: 100%; box-sizing: border-box; } .pps-next .next-article-page { padding-left: 0; float: left; margin: 0; } .next-article-page .action-txt { padding-left: 0!important; text-align: center; width: 87%; box-sizing: border-box; font-size: 26px; background: 0 0; text-align: center; } #ax1x { padding: .25em 0!important; min-height: 2.3em; width: 100% !important; margin: 0px !important; margin-bottom: 15px !important; padding-bottom: 0!important; } } @media (max-width: 500px){ .next-article-page .action-txt{ width: 75%; } }

Related posts

The need for a dialogue between crypto businesses and regulators

admin

Hong Kong Reportedly Picks ConsenSys for Digital Currency Pilot Project

admin

Waterloo residents have lost $430K to crypto scams this year

admin

Leave a Comment